Britain’s older citizens are sitting on £1 trillion of housing wealth that
could be unlocked to help to fund the rising costs of long-term care, a
report has suggested.

The elderly will grow from the current level of 17 per cent of the British
population to 22 per cent by 2030 and ways to pay for their retirements must
be found, said the management consultants McKinsey & Co in From
Austerity to Prosperity: Seven Priorities for the Long Term.

The research said that demand for long-term care is set to rise by more than
70 per cent over the next